The apparel industry is growing at a fast pace. It is led by a combination of retails, contractors, buyers and suppliers. Each one plays an important role in the network of the supply chain that spans from fibers to fabrics, accessories to garments and trading to marketing. In this competitive era, markets are becoming more dynamic and customer-driven. To meet increasing customer demands including more variety, better quality, and faster delivery, it is necessary for the apparel industry to have a transparent and efficient supply chain. Let’s explore the need for an efficient supply chain in apparel industry.
At Oodles, we provide supply chain software development solutions to enable apparel businesses to gain better visibility into their supply chain operations. Our developers build customized supply chain solutions using open-source platforms like Odoo, OpenTaps, and Ofbiz.
Need for Supply Chain Visibility in Apparel Industry
On-time Delivery:
Meeting the fashion demands of shoppers is critical for achieving profitability. The success and failure of an apparel industry depend on how fast a retailer can go from the concept to store shelves. Fashion retailers and apparel companies are pressurizing their suppliers to improve their ability to deliver new products to the market at a fast pace.
A longer waiting time in the apparel industry is a risk because there are constant changes in styles, trends and seasons. Delay in fulfilling customer requirements leads to customer disappointment and dissatisfaction. An efficient supply chain will enable store managers to deliver quality products at the right time. In addition, the stock managers can also maintain the inventory levels ensuring products are not out of stock.
Predictive Analytics for Better Visibility:
The digitalization of the supply chain is necessary if a fashion retail company wants to stay relevant in business. Shippers and supply chain partners must incorporate digitized supply chain automation for faster delivery of products. Store managers need predictive analytics to know where the actual delays are happening. Predictive analytics will improve forecast accuracy, optimize transportation performance, improve product tracking and analyze product returns.
Also Read: Key Trends for Supply Chain Management in 2020
Damaged and Lost Shipments:
Lost shipments and damaged items can be challenging for fashion businesses that outsource their manufacturing products on a regular basis. A high level of security is required to keep a track of valuable items in transit. There are various ways including video surveillance and protective cages to prevent thefts, product losses, and damages in warehouses and during shipments. Real-time monitoring at the stage of transportation and delivery of goods is important to ensure products reach safely to the end customers.
Supply Chain in Apparel Industry: Challenges and Solutions
For manufacturers, distributors, and retailers in the apparel industry, the most challenging market condition is continuously changing fashion trends. It is essential for apparel brands to quickly catch sales declines to avoid costly overstocks. Some of the key challenges in the supply chain in the apparel industry include:
* Delays in offshore manufacturing
* Timely and safe delivery of items
* Adequate inventory forecasting
At Oodles ERP, we provide highly accurate forecasting algorithms and dynamic time-phased replenishment plans and solutions for the supply chain in the apparel industry. Our supply chain management software development solutions enable businesses to manage inventory levels, enhance service levels, and phase out obsolete styles and lines.
An Efficient supply chain in apparel industry will enable marketers to optimize efficiency, increase visibility and responsiveness. It will enable businesses to drive customer acquisition and loyalty in a fiercely competitive marketplace.
If you want to increase the efficiency of your supply chain with next-gen technologies, connect with our ERP team!
